Cambodian mobile operators Smart Mobile and Star-Cell have received the green light from regulators to combine their operations, according to a statement.
Known as Latelz Co, the newly-formed entity will operate under the Smart Mobile brand. It aims to…
Cambodian mobile operators Smart Mobile and Star-Cell have received the green light from regulators to combine their operations, according to a statement.
Known as Latelz Co, the newly-formed entity will operate under the Smart Mobile brand. It aims to be the third largest of Cambodia’s eight mobile operators with about 850,000 subscribers, according to Smart’s chief executive Thomas Hundt cited by the Phnom Penh Post.
The company will reportedly be 75%-owned by Smart’s holding company, Cyprus-based Timeturns, and the remaining 25% by Star-Cell’s owner, TeliaSonera. Both Timeturns and TeliaSonera also own shares in Nepal service provider NCell.
Hundt was quoted saying that no cash payment had been made between the two companies for the merger.
The news of a deal between the Cambodian operators was first broken in November by Alan Sinfield, the CEO of rival operator Cambodia Advance Communications (qb).
He reportedly said, at the time, that his company was also interested in Star-Cell but via a buyout rather than a merger. He added that qb would pursue other M&A deals in the event it was unsuccessful with Star-Cell.
Smart Mobile could not be reached for comment before going to press.
